Industrialization of Sweden

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The industrialization of Sweden began during the second half of the nineteenth century. The industrial breakthrough occurred in the 1870s during the international boom period, and it carried on through the decades in response to the growing demand of the home market.^[1] By the end of this period, the first multinational companies based on advanced technology had emerged.

During the early phase of World War I in which Sweden remained neutral, the country benefited from increasing demand. However, with the German submarine war, Sweden was cut off from its markets, which led to a severe economic downturn. Between the world wars, major Swedish exports were steel, ball-bearings, wood pulp, and matches. Prosperity after World War II provided the foundations for the social welfare policies characteristic of modern Sweden.

Foreign policy concerns in the 1930s centred on Soviet and German expansionism, which stimulated abortive efforts at Nordic defence co-operation.

In 2016, the Swedish government reported that the industrial and industrial-services sectors accounted for 77 per cent of the country's exports, equivalent to almost 50 per cent of the total gross domestic product (GDP).^[2]